Latest news with #VRT
Globe and Mail
6 hours ago
- Business
- Globe and Mail
VRT's Buyout of Great Lakes Boosts Prospects: A Sign of More Upside?
Vertiv 's VRT cloud and AI-infrastructure business spans across thermal, power and integrated rack systems, supporting high-density compute environments in data centers, communication networks and edge deployments. VRT's solutions enable scalable, energy-efficient infrastructure that reduces deployment complexity and supports critical digital operations for global enterprises. Vertiv recently entered into an agreement to acquire Great Lakes Data Racks & Cabinets for $200 million in cash. Great Lakes is a U.S.-based manufacturer of custom, engineered-to-order enclosures with expertise in airflow, cable management and thermal optimization. Its U.S. and European manufacturing presence supports fast, tailored delivery for high-density enterprise, edge and hyperscale environments. The deal, valued at approximately 11.5X of Great Lakes' projected 2026 EBITDA, is expected to close in the third quarter of 2025, subject to regulatory approvals. The acquisition is expected to enhance Vertiv's Integrated Rack Solutions segment, which delivers pre-engineered systems combining enclosures, power and cooling. Integrating Great Lakes' enclosures enables Vertiv to offer factory-assembled, AI-ready racks that improve deployment speed and scalability across next-gen data centers. As AI and edge-computing infrastructure scales globally, the acquisition positions Vertiv to capture a greater share of demand for integrated, high-density systems, reinforcing its role as a core enabler of digital transformation. Vertiv Faces Stiff Competition Vertiv's expanding focus on AI-ready rack systems is drawing competition from players like Super Micro Computer SMCI and nVent Electric NVT, both scaling their infrastructure offerings to meet the needs of next-gen data centers. Super Micro Computer is deepening its NVIDIA and Intel partnerships to deliver optimized, high-density server racks tailored for AI workloads. With growing demand for liquid-cooled, rapid-deployment systems, Super Micro Computer is positioning itself as a key player in turnkey AI infrastructure. nVent Electric is gaining relevance with modular enclosures and engineered thermal integration. Known for serving edge and data center markets, NVT continues to expand its portfolio to address AI-related demands. As Vertiv enhances its rack capabilities through the Great Lakes acquisition, nVent Electric remains a core competitor in scalable, enclosure-driven infrastructure solutions. Vertiv's Share Price Performance, Valuation and Estimates VRT's shares have increased 13.6% year to date. The broader Zacks Computer & Technology sector has appreciated 9.6% and the Zacks Computers - IT Services industry has plunged 10.2% in the same period. VRT Performance Image Source: Zacks Investment Research Vertiv stock is trading at a premium, with a trailing 12-month Price/Book of 18.45X compared with the Computer and Technology sector's 10.44X. VRT has a Value Score of D. VRT Valuation Image Source: Zacks Investment Research The Zacks Consensus Estimate for second-quarter earnings is pegged at 83 cents per share, up by a penny over the past 30 days, indicating 23.88% year-over-year growth. The consensus mark for 2025 earnings is pegged at $3.56 per share, up by a penny over the past 30 days. This indicates a 24.91% increase from the reported figure of 2024. Vertiv currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. One Big Gain, Every Trading Day To help you take full advantage of this market, you're invited to access every stock recommendation in all our private portfolios - for just $1. Zacks private portfolio services that closed 256 double and triple-digit winners in 2024 alone. That's about one big gain every day the market was open. Of course, not all our picks are winners, but members have seen recent gains as high as +627% +1,340%, and +1,708%. Imagine how much you could profit with a steady stream of real-time picks from all our services that cover a number of strategies to suit a variety of investing and trading styles. See Stocks Now >> Click to get this free report Super Micro Computer, Inc. (SMCI): Free Stock Analysis Report nVent Electric PLC (NVT): Free Stock Analysis Report Vertiv Holdings Co. (VRT): Free Stock Analysis Report
Saudi Gazette
4 days ago
- Entertainment
- Saudi Gazette
Main stage at Belgium's Tomorrowland music festival completely destroyed by fire
BRUSSELS — The first festivalgoers have been arriving at Dreamville, Tomorrowland's official camping site, just hours after a fire destroyed the event's main stage, its crown jewel, on Wednesday evening. As widespread speculation spreads about the electronic dance music festival's potential cancellation, there are still no clear answers. Tomorrowland organisers said calling off the event is "the last thing they want," but they're still searching for solutions. The festival's production and creative teams are working in close consultation with safety experts and government departments, Tomorrowland spokesperson Debby Wilmsen said on Thursday morning in an interview with Belgium's Radio 1. "It is too early to say exactly what we are going to be able to do, but we are going to have to come up with a creative solution. However, the fire and police departments have the last word when it comes to safety, and we always listen to that," she noted. The governor of the province of Antwerp, Cathy Berx, is still hopeful that the festival will go ahead as planned, Flemish public broadcaster VRT reported. "I am confident that Tomorrowland, despite the terrible setback, will reconcile creativity with the safety of festival-goers and employees," she said.A team of 32 artists from 10 different countries brought the stage to life over the course of two years. The construction of the stage itself began at the end of May. No other stages or areas of the festival venue were impacted by the wrote in a statement that the Orbyz Mainstage was a "creation from pure passion, imagination, and dedication.""This wasn't just a stage. It was a living, breathing world. From the very first sketch on a blank page, to countless hours of conceptual design, artistic collaboration, engineering, crafting, building, every single piece of Orbyz carried part of our soul," the statement further is one of the world's largest EDM festivals, attracting a global crowd of music lovers each year across two weekends. Last year's edition welcomed 400,000 festival-goers were on site when the fire broke out and none of the roughly 1,000 employees were hurt while taking part in preparations for the opening investigation into the cause of the blaze is ongoing. — Euronews
Yahoo
4 days ago
- Entertainment
- Yahoo
Tomorrowland music festival main stage 'severely damaged' by massive fire
Ticketholders for the 2025 Tomorrowland music festival can breathe a sigh of relief. Not only was no one harmed in the massive blaze which recently engulfed and eventually destroyed the fest's main stage, but the event will officially go on as previously planned. "We can announce that, DreamVille (campsite) will open tomorrow (Thursday, July 17) as planned and will be ready for all DreamVille visitors. All Global Journey activities in Brussels and Antwerp will take place as planned," read a post shared Wednesday on the Instagram page of the annual electronic music festival held in Boom, Belgium. "We are focused on finding solutions for the festival weekend (Friday – Saturday – Sunday), the post continued. "More updates and detailed information will be communicated as soon as possible." Belgian news broadcaster VRT reported that the fire broke out around 6 p.m. local time on Wednesday, or 12 p.m. ET. Within hours, the flames completely engulfed the festival's massive main stage, which has been totally leveled. It is unclear whether a cause has been determined, as no cause has been announced to the public. Though no ticket-holders had entered the festival when the fire broke out, around 1,000 employees were on site. Firefighters were still on the scene late Wednesday evening, and some neighboring residents have been is set to run two consecutive weekends, from July 18-20, and again from July 25-27. The festival began humbly in 2005 and has since grown into a sprawling, multi-stage, multimedia experience, featuring music, food, art installations, light shows, and other immersive components. This year's lineup features musical acts including David Guetta, Swedish House Mafia, AFROJACK, Steve Aoki, and Armin van Buuren. The theme for the festival this year is "Orbyz." According to the Tomorrowland website, the 2025 edition is, "Set in a magical universe made entirely out of ice, [and] will reveal a hidden community that has been existing under a gigantic ice cap for many years. Once the mass of ice and glaciers starts melting, the indigenous community rises to the surface, consisting of a unique source of light, energy, and power that originates from powerful, red-colored crystals and rocks." 400,000 people are expected to attend over the course of two weekends, Read the original article on Entertainment Weekly Solve the daily Crossword
STV News
4 days ago
- Entertainment
- STV News
Fire destroys main stage of Tomorrowland festival days before opening
Video footage shows fire engulfing the Orbyz main stage of Tomorrowland 2025 A huge fire engulfed the main stage of Belgium's Tomorrowland two days before the electronic music festival was due to open. Video footage shared on social media shows flames tearing across the stage as plumes of thick black smoke rise into the air, while fireworks can also be seen and heard going off in the distance. It is unclear how the fire started at the festival site, in the town of Boom, north of Brussels, where an estimated 200,000 people were due to gather this weekend. No festival-goers were on site at the time of the fire, but about 1,000 staff members were present and have now been evacuated, Belgian broadcaster VRT reported. 'Due to a serious incident and fire on the Tomorrowland Mainstage, our beloved Mainstage has been severely damaged,' festival organisers said in a statement on Wednesday, confirming that no one was injured. The cause of the fire has not been confirmed. / Credit: EBU The festival, whose big names on this weekend's line-up include David Guetta, Swedish House Mafia, Charlotte de Witte and Amelie Lens, is expected to go ahead without the main stage, although it is unclear how acts will be rescheduled. Tomorrowland spokesperson Debby Wilmsen said a lot of workers were devastated to see the main stage destroyed, given that it took years to build, 'with so much love and passion.' 'We're going to make it a great festival. It will be without a main stage. But hopefully, we can do something else, but I can't say much about that yet,' she added. Organisers said they 'spent the night working on possible solutions for the mainstage area' and that its 'Dreamville' campsite welcomed festivalgoers on Thursday morning. Morgan Hermans, who lives near the festival site, told CNN that she initially heard fireworks going off, which prompted her to look outside. 'There was just a big cloud of fireworks and smoke very near us, so that was a bit scary,' she said. 'It's one of the biggest events in the entire year. Our town is very small so to welcome people (from) around the entire world, it's crazy and it's so much fun. 'It's a big deal so everyone in Boom was a bit terrified for a few seconds.' Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
Euronews
4 days ago
- Entertainment
- Euronews
Festival fans arrive as Tomorrowland seeks solutions after stage fire
The first festivalgoers have been arriving at Dreamville, Tomorrowland's official camping site, just hours after a fire destroyed the event's main stage, its crown jewel, on Wednesday evening. As widespread speculation spreads about the electronic dance music festival's potential cancellation, there are still no clear answers. Tomorrowland organisers said calling off the event is "the last thing they want," but they're still searching for solutions. The festival's production and creative teams are working in close consultation with safety experts and government departments, Tomorrowland spokesperson Debby Wilmsen said on Thursday morning in an interview with Belgium's Radio 1. "It is too early to say exactly what we are going to be able to do, but we are going to have to come up with a creative solution. However, the fire and police departments have the last word when it comes to safety, and we always listen to that," she noted. The governor of the province of Antwerp, Cathy Berx, is still hopeful that the festival will go ahead as planned, Flemish public broadcaster VRT reported. "I am confident that Tomorrowland, despite the terrible setback, will reconcile creativity with the safety of festival-goers and employees," she said. A team of 32 artists from 10 different countries brought the stage to life over the course of two years. The construction of the stage itself began at the end of May. No other stages or areas of the festival venue were impacted by the fire. Tomorrowland wrote in a statement that the Orbyz Mainstage was a "creation from pure passion, imagination, and dedication." "This wasn't just a stage. It was a living, breathing world. From the very first sketch on a blank page, to countless hours of conceptual design, artistic collaboration, engineering, crafting, building, every single piece of Orbyz carried part of our soul," the statement further read. Tomorrowland is one of the world's largest EDM festivals, attracting a global crowd of music lovers each year across two weekends. Last year's edition welcomed 400,000 people. No festival-goers were on site when the fire broke out and none of the roughly 1,000 employees were hurt while taking part in preparations for the opening weekend. An investigation into the cause of the blaze is ongoing.
